Morgan Stanley's Bitcoin ETF attracts $306,000 in fund inflow on its first trading day
According to data from Farside Investors, Morgan Stanley officially launched the spot btc-42">Bitcoin ETF (MSBT) on Wednesday, attracting $306,000 in inflows on its first trading day, becoming the first major commercial bank in the U.S. to introduce such a product. The management fee for MSBT is 0.14%, currently the lowest fee for a Bitcoin ETF on the market.
Although the fund performed steadily on its first day, the overall net outflow for spot Bitcoin ETFs across the U.S. was $124.5 million on Wednesday, marking the second consecutive trading day of net outflows. Bloomberg Intelligence analyst James Seyffart stated that this product may serve as a lead generation tool aimed at attracting high-net-worth individuals in the cryptocurrency space to use its wealth management services.
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